Waterdrop Inc. (WDH) Announces Proposed Acquisition of Shenzhen Cunzhen Qiushi Technology
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Waterdrop Inc. ("Waterdrop", the "Company" or "we") (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced that it has entered into definitive transaction documents in relation to the proposed acquisition of Shenzhen Cunzhen Qiushi Technology Co., Ltd. and its subsidiaries (collectively, "Cunzhen Qiushi", also known as "Shenlanbao").
Founded in 2018, Cunzhen Qiushi provides insurance knowledge-based content and insurance product reviews through multiple online channels to attract users, and convert them into insurance consumers to generate commission. Pursuant to the transaction documents, the Company will acquire up to 100% of the equity interest of Cunzhen Qiushi for an aggregate consideration of
Upon completion of the proposed acquisition, Cunzhen Qiushi will become a wholly owned subsidiary of Waterdrop, and its financial results will be consolidated into our consolidated financial statements upon completion of the first closing of the proposed acquisition.
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